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Emera Incorporated Announces Conversion Privilege of Cumulative Rate Reset First Preferred Shares, Series A and Cumulative Floating Rate First Preferred Shares, Series B
Emera Incorporated (“Emera” or the “Company”) (TSX/ NYSE: EMA) announ...
About this update from Emera Incorporated
[{"type":"text","content":"Emera Incorporated Announces Conversion Privilege of Cumulative Rate Reset First Preferred Shares, Series A and Cumulative Floating Rate First Preferred Shares, Series B\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwlistdecimal { list-style-type: decimal }\n \n\n\n\n Emera Incorporated (“Emera” or the “Company”) (TSX/ NYSE: EMA) announced today that it does not intend to exercise its right to redeem all or any part of the currently outstanding Cumulative Rate Reset First Preferred Shares, Series A (the “Series A Shares”) or the Cumulative Floating Rate First Preferred Shares, Series B (the “Series B Shares”) of the Company on August 15, 2025. There are currently 4,866,814 Series A Shares and 1,133,186 Series B Shares outstanding.\n \n\n As a result, subject to certain conditions set out in the prospectus supplement of the Company dated May 26, 2010, to the short form base shelf prospectus of the Company dated May 19, 2010, relating to the issuance of the Series A Shares and Series B Shares (collectively, the “Prospectus”), on August 15, 2025 (the “Conversion Date”):\n \n\n (a) the holders of Series A Shares have the right, at their option:\n \n\n\n to retain any or all of their Series A Shares and continue to receive a fixed rate quarterly dividend; or\n \n\n to convert any or all of their Series A Shares, on a one-for-one basis, into Series B Shares and receive a floating rate quarterly dividend, and\n \n\n\n (b) the holders of Series B Shares have the right, at their option:\n \n\n\n to retain any or all of their Series B Shares and continue to receive a floating rate quarterly dividend; or\n \n\n to convert any or all of their Series B Shares, on a one-for-one basis, into Series A Shares and receive a fixed rate quarterly dividend.\n \n\n\n The conversion of Series A Shares is subject to the conditions that: (i) if the Company determines, after having taken into account all shares tendered for conversion by holders of Series A Shares, that there would remain outstanding on the Conversion Date less than 1,000,000 Series A Shares, all remaining Series A Shares will automatically be converted into Series B Shares on a one-for-one basis on the Conversion Date, and (ii) alternatively, if the Company determines that, after ...